Springleaf CEO retiring

EVANSVILLE - Evansville-based Springleaf Financial Services' top executive will retire next month, the company has announced.

Frederick Geissinger, who has been Springleaf's chief executive officer for 16 years, will retire on Oct. 1. On that day, Jay Levine will take his place as president and chief executive officer.

Levine has more than 25 years in the financial services industry, most recently serving as CEO at RBS Greenwich Capital. Before that, while working at Salomon Brothers, Levine "was responsible for building a market for a number of innovative mortgage products that extended housing finance to a broader range of borrowers," according to a statement from Springleaf.

Springleaf, formerly known as American General Finance, is a financial services company that provides consumer credit in the form of mortgages, secured and unsecured personal loans and secured retail sales finance products. The company also has several subsidiary insurance companies through which it offers credit and noncredit insurance.

Barry Roberts, Springleaf's marketing director, said the company will continue its focus on "the needs of the American consumer" under Levine's leadership.

"We're still in the same business that we have been in for 90 years; consumer lending and personal finance," Roberts said.

Geissinger led Springleaf through some major changes during his tenure. It was acquired by American International Group, weathered the recent financial crisis, and last fall Fortress Investment Group acquired an 80 percent interest in the company from AIG.

In a statement provided by Springleaf, Levine said "the recent demise of many of Springleaf's competitors, combined with the enormous needs of the American consumer, creates a compelling market opportunity for Springleaf."